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Given the following information, at what point does a profit maximizing monopsonist, who is also a monopolist, stop hiring additional workers? Number of workers Value of Marginal Product of Labor (VMPL=P*MPL) Marginal Revenue Product of Labor (MRPL=MR*MPL) Marginal Cost 1 20 25 25 2 35 35 30 3 40 45 40 4 45 55 50

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Given the following information, at what point does a profit maximizing monopsonist, who is also a monopolist, stop hiring additional workers? <p /><table width='100%' border='1' cellspacing='1' cellpadding='1''font-weight:inherit;font-style:inherit;font-variant:inherit;font-size:11px;border-spacing:0px;border-collapse:collapse;font-family:'lucida grande', tahoma, verdana, arial, sans-serif;direction:ltr;text-align:left;color:rgb(51, 51, 51);'><tbody> <tr> <td width='25%' valign='top' ><font size='2'>Number of workers </td> <td width='25%' valign='top' ><font size='2'>Value of Marginal Product of Labor (VMPL=P*MPL) </td> <td width='25%' valign='top' ><font size='2'>Marginal Revenue Product of Labor (MRPL=MR*MPL) </td> <td width='25%' valign='top' ><font size='2'>Marginal Cost </td> </tr> <tr> <td width='25%' valign='top' > <p align='center'>1 </td> <td width='25%' valign='top' > <p align='center'>20 </td> <td width='25%' valign='top' > <p align='center'>25 </td> <td width='25%' valign='top' > <p align='center'>25 </td> </tr> <tr> <td width='25%' valign='top' > <p align='center'>2 </td> <td width='25%' valign='top' > <p align='center'>35 </td> <td width='25%' valign='top' > <p align='center'>35 </td> <td width='25%' valign='top' > <p align='center'>30 </td> </tr> <tr> <td width='25%' valign='top' > <p align='center'>3 </td> <td width='25%' valign='top' > <p align='center'>40 </td> <td width='25%' valign='top' > <p align='center'>45 </td> <td width='25%' valign='top' > <p align='center'>40 </td> </tr> <tr> <td width='25%' valign='top' > <p align='center'>4 </td> <td width='25%' valign='top' > <p align='center'>45 </td> <td width='25%' valign='top' > <p align='center'>55 </td> <td width='25%' valign='top' > <p align='center'>50 </td> </tr></tbody> </table>





 
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